Reinsurance Group of America
Reinsurance Group of America, Incorporated (RGA)
|
| Type |
Incorporated (NYSE: RGA) |
| Industry |
Reinsurance |
| Founded |
1973 |
| Headquarters |
St. Louis, USA |
| Key people |
A. Greig Woodring
President and Chief Executive Officer,
Reinsurance Group of America, Incorporated
Jack B. Lay
Senior Executive Vice President and Chief Financial Officer, Reinsurance Group of America, Incorporated
Paul A. Schuster
Senior Executive Vice President,
Reinsurance Group of America,
Incorporated and Chairman, President and Chief Executive Officer,
RGA Reinsurance Company |
| Products |
Reinsurance |
| Revenue |
$8,3 billion
(As of December 31, 2010) |
| Operating income |
$574.4 million (2010) |
| Profit |
$574.4 million (2010) |
| Total assets |
$29.1 billion(2010) |
| Employees |
1,535(2010) |
| Website |
www.rgare.com |
Reinsurance Group of America is an international global life and health reinsurance company with more than $2.5 trillion of life reinsurance in force and assets of more than $29.1 billion in 2010[1]. Business lines include life reinsurance, living benefits, health reinsurance, long-term care reinsurance, group reinsurance and financial reinsurance. RGA also suports clients with bancassurance and microinsurance products, and retakaful. In addition, RGA provides product development, risk management, e-underwriting solutions and client training opportunities.
Global Operations
RGA has operations in 25 countries: Australia, Barbados, Bermuda, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Singapore, South Africa, South Korea, Spain, Taiwan, the United Arab Emirates, the United Kingdom, and the United States.
History
- RGA began operating in the United States in 1973 as General American Re, a reinsurance division created by General American Life Insurance Company. In 1992, General American chartered Reinsurance Group of America, Incorporated (RGA) as a holding company for its reinsurance operations. Later that year, RGA opened its first international office when it acquired National Re of Canada, which went on to become RGA Life Reinsurance Company of Canada. In 1993, RGA began being traded publicly on the New York Stock Exchange (NYSE: RGA).[2]
- By 1999, RGA had opened additional offices in Spain, Hong Kong, Japan, Australia, New Zealand, South Africa, the U.K., Mexico and Taiwan.
- In 2000, Metropolitan Life Insurance Company (MetLife, Inc.) acquired GenAmerica Corporation, which included General American and its subsidiaries, thereby gaining effective control of RGA. In 2008, RGA became a stand-alone company after it split off from MetLife, Inc.
- Between 2002 and 2010, RGA opened additional offices in South Korea, India, China, Poland, France, Italy, Germany and the Netherlands.
- In 2010, RGA completed the acquisition of ReliaStar’s U.S. and Canadian group life, accident and health reinsurance business, which operated under the name ING Reinsurance and was owned by ReliaStar Life Insurance Company.
Recent Awards and Recognitions
2011
- RGA ranked #1 in the Business Capability Index in NMG Consulting studies in Canada, Central and Eastern Europe, Continental Europe, Italy, Mexico, and U.K. and Ireland.
- RGA was named "Best Reinsurer for Mortality Risk Transfer" by the Life & Pension Risk Awards
- RGA was named “Life Reinsurance Company of the Year” at The Review Worldwide Reinsurance Awards. This was the fourth time in eight years RGA received this award.
- RGA ranked #290 on Fortune 500 list.
- RGA Reinsurance Company was named “Best Overall Life Reinsurer” for the fourth consecutive time by North American life insurers in the 2011 Flaspöhler Cedant Survey (Life – North America).
2010
- RGA was added to the Fortune 500 list by Fortune magazine, which ranks U.S.-based companies by total revenue.
- RGA was named “Best Reinsurer for Longevity Risk Transfer” by the Life & Pension Risk Awards.
- RGA was named “Best Global Reinsurance Company for Life” by the Reactions Global Awards.
- RGA was named “Australia and New Zealand Reinsurance Company of the Year” by the Australia and New Zealand Insurance Industry Awards.
- RGA was named “Best Reinsurer” by Risk Management, Insurance & Finance magazine (Taiwan).
- RGA ranked #1 in Business Capability Index in NMG Consulting studies in Asia, Australia, Italy, South Africa, the U.K. and Ireland.
2009
- RGA was named “Life Reinsurance Company of the Year” at The Review Worldwide Reinsurance Awards. This was the third time in six years RGA had received this award.
- RGA Reinsurance Company was named “Best Overall Life Reinsurer” for the third consecutive time by North American life insurers in the 2009 Flaspöhler Cedant Survey (Life – North America).
- RGA was named “Australia and New Zealand Reinsurance Company of the Year” by the Australia and New Zealand Insurance Industry Awards.
References
External Links
Official Website